Office v Wisconsin

CBRE closes sale of Barnabas Business Center in Milwaukee market

  

CBRE Capital Markets has completed the sale of the Barnabas Business Center, a unique property with historic charm in Glendale, Wisconsin, to Cardinal Capital Management for $4.5 million.

Patrick Gallagher, Peter Langhoff and Max Schultz in CBRE’s Milwaukee office represented the seller, Barnabas Building Properties, LLC.

“The buyer was attracted to the unique architecture with a picturesque setting along the Milwaukee River. It has a number of stable, long-term tenants with some quality vacant space for upside potential,” said Mr. Gallagher, senior vice president, CBRE.

Originally constructed in 1920, the office complex at 4650 N. Port Washington Road was the former home of Eline’s Chocolate Company. The office buildings feature many unique characteristics not found in modern construction. The property includes 114,682 square feet of office in four buildings on a 9.5-acre campus setting. The site includes additional land along the river that could be improved in the future.